Black Friday: The Price Dropping Business Ritual

The phrase Black Friday is fast becoming the most used everywhere in the business sphere, especially in business locations like, shopping malls, and supermarkets.

Black Friday, the name given to the shopping day after Thanksgiving, was originally called Black Friday because so many people went out to shop that it caused traffic accidents and sometimes even violence.

The Philadelphia Police Department coined the phrase to describe the mayhem surrounding the congestion of pedestrian and auto traffic in the downtown area.

The name was first recorded in 1966 by Earl Apfelbaum, a dealer in rare stamps. In his ad, he said Black Friday is the name that the Philadelphia Police Department gave to the Friday following Thanksgiving Day.

Today, Black Friday which comes towards the end of the year from November 23, is known to be the biggest sale of the year, with prices of groceries, food items, appliances, and clothing slashed to low prices.

As for retailers, they see Black Friday as an opportunity to clear old inventory in order to introduce newer stock in time for Christmas and customers have decided to take advantage of the cheaper prices to buy all the items they need.